However, major changes are anticipated on the payer side. Information is already flowing in the world for seconds now, but thousands of billions of billions of dollars are slow. Bank transfer from Helsinki to New York costs extra and still takes days. "Payments are, of course, the greatest potential, the volumes are the biggest," von Koskull stresses. The Temenos system will be compatible with faster and cheaper payment solutions based on block technology. They are challenging the decades of banking SWIFT payment system. One of these is the American company Ripple's technology. The Cryptovaluation created by the company acts as a bridge in cross-currency transfers and eliminates the need for inter-bank so-called backlogs. Ripple promises banks savings of up to 60 percent. "Ripple has already launched its own technology, which is being introduced in Japan. Everything is done in co-operation with banks, such as the R3 consortium. It is of enormous importance to us. " Since 2015, Nordea has been involved in an international network run by an American company R3. Also included are Citi, Deutsche Bank, HSBC and Goldman Sachs and Finland OP. R3, which co-operates with Ripple, has a stock option in billions of units for Ripple xrp-cryptographic currencies.

However, major changes are anticipated on the payer side. Information is already flowing in the world for seconds now, but thousands of billions of billions of dollars are slow. Bank transfer from Helsinki to New York costs extra and still takes days. "Payments are, of course, the greatest potential, the volumes are the biggest," von Koskull stresses. The Temenos system will be compatible with faster and cheaper payment solutions based on block technology. They are challenging the decades of banking SWIFT payment system. One of these is the American company Ripple's technology. The Cryptovaluation created by the company acts as a bridge in cross-currency transfers and eliminates the need for inter-bank so-called backlogs. Ripple promises banks savings of up to 60 percent. "Ripple has already launched its own technology, which is being introduced in Japan. Everything is done in co-operation with banks, such as the R3 consortium. It is of enormous importance to us. " Since 2015, Nordea has been involved in an international network run by an American company R3. Also included are Citi, Deutsche Bank, HSBC and Goldman Sachs and Finland OP. R3, which co-operates with Ripple, has a stock option in billions of units for Ripple xrp-cryptographic currencies.

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At this point I would say that the new Temenos Model Bank system will have an option to settle the payments with XRP. Temenos system will contain plugin to Ripple's xRapid or R3's Corda Settler or both software. Of course the XRP settlement can only be done via Temenos after each bank buys xRapid or Corda Settler also on top of that.

The article from Kauppalehti had the following quotation in below. Previously, I thought that statement was just a misunderstanding of the journalist because I thought Ripple and R3 hated each other due to their old legal dispute. However, in reality they are indeed working together and I was wrong. R3 probably gave in the legal battle after Ripple promised to pay them lots of XRPs. I think both Ripple and R3 are going to push together to get the regulations in place in USA. I believe the regulators are procrastinating in purpose because they want to get compensated for moving their pen.

"R3, which co-operates with Ripple, has a stock option in billions of units for Ripple xrp-cryptographic currencies."

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At this point I would say that the new Temenos Model Bank system will have an option to settle the payments with XRP. Temenos system will contain plugin to Ripple's xRapid or R3's Corda Settler or both software. Of course the XRP settlement can only be done via Temenos after each bank buys xRapid or Corda Settler also on top of that.

The article from Kauppalehti had the following quotation in below. Previously, I thought that statement was just a misunderstanding of the journalist because I thought Ripple and R3 hated each other due to their old legal dispute. However, in reality they are indeed working together and I was wrong. R3 probably gave in the legal battle after Ripple promised to pay them lots of XRPs. I think both Ripple and R3 are going to push together to get the regulations in place in USA. I believe the regulators are procrastinating in purpose because they want to get compensated for moving their pen.

"R3, which co-operates with Ripple, has a stock option in billions of units for Ripple xrp-cryptographic currencies."

I have thought about the Ripple business model and their strategy to capture the world's cross border payment system. The idea that they want to sign 2-3 banks a week until they have captured potentially all cross border transactions seems like a long and painful process.

I believe Ripple realized they could simply capture payment provider such as Temenos, TAS Group, Volante, Corda, SAP (ERP system), and others we may not know about. Every bank who uses one of these software platforms has an open channel to Ripplenet increasing it's value should they decide to use it and I mean why not?

Ripple could worry about licensing fees or they could gift the ILP to the world, license to a few payment providers, own 45 billionish XRP and sell it over the course of a few years when this thing finally moons and ride off into the sunset.

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The idea that they want to sign 2-3 banks a week until they have captured potentially all cross border transactions seems like a long and painful process.﻿﻿

I believe Ripple realized they could si﻿mply capture payment provider such as Temenos, TAS Group, Volante, Corda, SAP (ERP system), and others we may not know about. Every bank who uses one of these software platforms has an open channel to Ripplenet increasing it's value

Yeah, I agree. Ripple had to prove themselves like signing over 100 banks around the world to use xCurrent before the bigger banking software vendors would take them seriously and allow the integration of the systems.

42 minutes ago, Bettergoham said:

Ripple could worry about licensing fees or they could gift the ILP to the world, license to a few payment providers, own 45 billionish XRP and sell it over the course of a few years when this thing finally moons and ride off into the sunset.

Here you probably meant to say RippleNet instead of ILP. The former is software suite from Ripple and the latter is just a payment protocol that does not have any specific company or currency behind it. Anyway, Ripple is definitely trying to change their business model from implementation projects to licensing. The dream scenario for Ripple would be licensing business just like you described where Ripple would basically just sell licenses to their software suite, RippleNet. The core software development of RippleNet would still be done by Ripple but the RippleNet implementation projects (installations, training, upgrades, etc.) would be done locally by various consultancy houses close to each individual customer. This is basically how SAP software company operates, for instance.

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While I have followed the thread ..... I do not understand what this means exactly.

sorry. and a hug to all the holders

Both.

Positive aspect is that by implementing Temenos T24 core banking platform PayPal will have possibility to use DLT. It is very likely that Temenos will provide integration to DLT as the Kauppalehti news suggests in above. Also below thread lists factors that hints that Temenos will provide DLT. Who are the two most prominent DLT companies there? That's right. Ripple and R3. They both offer software (xRapid and Corda Settler) that leverages XRP.

Negative aspect is that PayPal might choose just to use T24 or choose not to use xRapid or Corda Settler for whatever reason in future.

The sure thing is that as long as Ripple and R3 keep growing the harder it is to avoid DLT.

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Positive aspect is that by implementing Temenos T24 core banking platform PayPal will have possibility to use DLT. It is very likely that Temenos will provide integration to DLT as the Kauppalehti news suggests in above. Also below thread lists factors that hints that Temenos will provide DLT. Who are the two most prominent DLT companies there? That's right. Ripple and R3. They both offer software (xRapid and Corda Settler) that leverages XRP.

Negative aspect is that PayPal might choose just to use T24 or choose not to use xRapid or Corda Settler for whatever reason in future.

The sure thing is that as long as Ripple and R3 keep growing the harder it is to avoid DLT.

This is the craziest news. Does it guarantee PayPal will use Ripple or XRP? In the short term, no. In the long term, as long as Ripple’s tech remains the cheapest, fastest, and most robust... I think yes. The Network is coming together.